A per credit hour scholarship is awarded by the College to each doctoral student enrolled in the program. To receive the scholarship each semester, the student must earn all course credits and maintain a minimum 3.0 cumulative grade point average. The scholarship is applied each semester directly to the student’s account.
Federal Student Loans
Unsubsidized Federal Student Loan
To be considered for an Unsubsidized Federal Student Loan, a student must complete the Free Application for Federal Student Aid (FAFSA). In order to ensure the information is sent to Goldey-Beacom College, include GBC’s Federal School Code (001429) in the “school information” section of the FAFSA. Also, register for a FSA ID as this is required to sign the FAFSA electronically as well as access the FAFSA information in the future. A Federal Student Loan Master Promissory Note (MPN) and federal loan entrance counseling must be completed prior to enrolling in coursework. Both the MPN and entrance counseling are available on the https://studentaid.gov website.
An eligible student’s enrollment status affects federal loan eligibility. Full-time enrollment is defined as nine (9) hours for a doctoral student. Enrolling in at least six (6) semester credit hours is required to be considered half-time. An eligible student must be enrolled in doctoral coursework (800- or 900-level courses only) and meet the doctoral Satisfactory Academic Progress Standards for each period of enrollment.
The unsubsidized loan is not dependent on financial need but does accrue interest while the student is enrolled in courses at the College. Repayment does not begin until the student graduates or drops below half-time (less than six credits) enrollment.
A doctoral student can be awarded up to $20,500, if eligible, in unsubsidized student loans annually depending on the calculated cost of attendance and other aid awarded. The aggregate loan limit for an eligible doctoral student to borrow is up to $138,500 overall (includes total amount borrowed for the student’s master’s coursework).
Graduate PLUS Loan
This federal loan is available to a doctoral student who has borrowed the annual or aggregate limit under the Unsubsidized Federal Student Loan program. This loan cannot be awarded in excess of the cost of attendance. A doctoral student, regardless of income level, is eligible to apply but it is a credit-based loan. A student must apply and be approved for the loan. Repayment of the loan may be deferred and is contingent upon half-time (six (6) credits each semester) enrollment. The student must meet the doctoral Satisfactory Academic Progress Standards after each period of enrollment.
There may be other federal regulations that apply to the Federal Student Loan program not presented here. An Advisor in the Financial Aid/Advisement Office is available to provide assistance to a student who has questions. An applicant or student can email the Financial Aid/Advisement Office at firstname.lastname@example.org.